Kratos Defense & Security Solutions (NASDAQ:KTOS) Sets New 12-Month High - Here's What Happened

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $44.13 and last traded at $42.16, with a volume of 3116397 shares trading hands. The stock had previously closed at $43.23.

Wall Street Analysts Forecast Growth

KTOS has been the subject of several research analyst reports. Truist Financial raised their target price on Kratos Defense & Security Solutions from $32.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. JPMorgan Chase & Co. raised their price objective on shares of Kratos Defense & Security Solutions from $33.00 to $44.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Benchmark raised their price objective on shares of Kratos Defense & Security Solutions from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of Kratos Defense & Security Solutions from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada raised their price target on shares of Kratos Defense & Security Solutions from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.78.

Kratos Defense & Security Solutions Trading Up 2.3%

The firm's 50-day moving average price is $36.47 and its 200-day moving average price is $31.96. The company has a quick ratio of 2.26, a current ratio of 2.84 and a debt-to-equity ratio of 0.17. The company has a market cap of $6.61 billion, a P/E ratio of 331.64 and a beta of 0.99.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last issued its earnings results on Wednesday, May 7th. The aerospace company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. Kratos Defense & Security Solutions had a net margin of 1.68% and a return on equity of 3.85%. The business had revenue of $302.60 million for the quarter, compared to analysts' expectations of $292.25 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts expect that Kratos Defense & Security Solutions, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Kratos Defense & Security Solutions

In related news, insider Jonah Adelman sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $33.76, for a total transaction of $1,350,400.00. Following the sale, the insider now owns 39,348 shares of the company's stock, valued at approximately $1,328,388.48. This represents a 50.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas E. Iv Mills sold 5,786 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $33.11, for a total transaction of $191,574.46. Following the sale, the insider now directly owns 15,332 shares in the company, valued at $507,642.52. This trade represents a 27.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 151,572 shares of company stock worth $5,251,396. 2.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC increased its stake in Kratos Defense & Security Solutions by 129.2% in the 1st quarter. Voya Investment Management LLC now owns 2,163,223 shares of the aerospace company's stock worth $64,226,000 after acquiring an additional 1,219,585 shares during the last quarter. Rhumbline Advisers increased its position in shares of Kratos Defense & Security Solutions by 63.2% in the first quarter. Rhumbline Advisers now owns 360,665 shares of the aerospace company's stock worth $10,708,000 after purchasing an additional 139,725 shares during the last quarter. Strs Ohio bought a new position in shares of Kratos Defense & Security Solutions in the first quarter worth approximately $374,000. Belpointe Asset Management LLC bought a new position in shares of Kratos Defense & Security Solutions in the first quarter worth approximately $517,000. Finally, Intech Investment Management LLC increased its position in shares of Kratos Defense & Security Solutions by 29.5% in the first quarter. Intech Investment Management LLC now owns 80,761 shares of the aerospace company's stock worth $2,398,000 after purchasing an additional 18,405 shares during the last quarter. Institutional investors own 75.92% of the company's stock.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc engages in the provision of mission critical products, services and solutions for United States national security priorities. It operates through the Kratos Government Solutions (KGS) and Unmanned Systems (US) segments. The KGS segment consists of an aggregation of KGS operating segments, including microwave electronic products, space, satellite and cyber, training solutions.